Teleflex Incorporated Plans Quarterly Dividend of $0.34 (NYSE:TFX)

Teleflex Incorporated (NYSE:TFX) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.34 per share by the medical technology company on Monday, December 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, November 15th.

Teleflex has a payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Teleflex to earn $15.41 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 8.8%.

Teleflex Stock Down 14.5 %

Shares of Teleflex stock opened at $201.02 on Friday. The stock’s 50-day moving average is $240.17 and its 200 day moving average is $223.92. Teleflex has a one year low of $178.83 and a one year high of $257.85. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 2.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. During the same quarter last year, the firm posted $3.64 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that Teleflex will post 13.97 EPS for the current year.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TFX. Stephens increased their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial increased their price target on Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Royal Bank of Canada boosted their price objective on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $268.86.

Teleflex Company Profile

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.